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Consumer prices in Hungary rose by an annual 20.1% in September, accelerating from a 15.6% increase in the previous month, driven by higher food and household energy prices, the Central Statistical Office (KSH) said on Tuesday. Food prices rose by 35.2% as the price of bread jumped 76.2%, pork prices climbed 22.4% and dairy products were 66.3% dearer. The government rolled back prices for a number of staples, including pork, cooking oil and flour, to mid-October levels from February 1 in an effort to dampen inflation. Household energy prices increased by 62.1%, lifted by new consumption restrictions for regulated utilities prices in force from August 1. CPI calculated with a basket of goods and services used by pensioners was 21.9%. Month on month, CPI was 4.1%.
The National Bank of Hungary (NBH) said inflation would continue to climb for the rest of 2022 in its latest quarterly Inflation Report released in September. Central bank director András Balatoni had said the increase would be “front-loaded”, with most showing up in September CPI, followed by increases “at a slower pace” in the following months.